UK Business minister Greg Clark said on Monday the accounting watchdog, the Financial Reporting Council, will be scrapped and replaced by a more powerful regulator with greater oversight of the Big Four accounting firms.

British builder Kier Group Plc on Monday disclosed an accounting error that increased its debt by 50 million pounds ($66.13 million), alarming investors and sending shares down by about 13 percent.

UK Prime Minister Theresa May and European Commission President Jean-Claude Juncker on Monday reached a revised deal for Brexit with legal assurances that Britain cannot be “trapped” in a customs union. ($1 = 0.7561 pounds) (Compiled by Bengaluru newsroom Editing by Sonya Hepinstall)